Npower: How The Soft Loan Will Be Disbursed By The CBN

NPower News: The EXIT package is a soft loan which will be given to Npower volunteers that have completed the NEXIT training and have obtained their Nexit training certificates, before the Npower volunteers receives the soft loan exit package their are basic criteria that must be met by the volunteers, the following below are the criteria;

1) Npower volunteers must have completed the one week NEXIT training.

2) Npower volunteers must have completed their business plans and these business plans must have been submitted by the NEXIT training state coordinators.

3) Npower volunteers must have obtained the NEXIT training certificate after the one week NEXIT training programme.

4) Npower volunteers must have an active bank account.

5) Other criteria as communicated by the Central Bank of Nigeria.

HOW THE NPOWER EXIT PACKAGE SOFT LOAN WILL BE DISBURSED BY THE CENTRAL BANK OF NIGERIA

The Npower exit package which is the soft loan will be disbursed in the following ways below:

1) The Npower Nexit training consultants will adjust the financial details of the business plans, details to be adjusted includes, cost of equipment, cost of land, cost of materials, cost of payment to employees, cost of buildings, financial plans and other details required for the business.

2) The business plan after carefully adjusted will be forwarded to the Central Bank of Nigeria.

3) The Central Bank of Nigeria will receive all business plans of all volunteers from Nexit state training coordinators.

4) The Central Bank of Nigeria will use a flexible system to disburse the soft loan, the Nigeria Micro Finance Bank will be a major intermediary.

5) Npower volunteers will receive will receive ₦500,000 to ₦3,000,000 depending on the category of business and the loan amount stated in the final business plan, some equipment might be procured on behalf of the volunteers.